Breaking: When Is the Next Powerball Drawing? $905M Jackpot

Image Source: Forbes

When is the next Powerball drawing? Lottery players will not have to wait long. The next drawing is scheduled for Monday, August 10, 2026, at 10:59 p.m. EDT, after no ticket matched all six numbers in Saturday night’s drawing. The jackpot has now climbed to an estimated $905 million, making it one of the biggest prizes available to players this year.

When Is the Next Powerball Drawing?

The next Powerball drawing will take place Monday night at 10:59 p.m. Eastern time. The drawing follows a rollover from Saturday, when no player correctly selected the five white-ball numbers and the red Powerball number.

Players can follow the drawing through official lottery broadcasts, while winning numbers are typically posted shortly after the results are announced. Anyone holding a ticket should check it carefully against the official results and sign the back of a winning ticket before claiming a prize.

Powerball Jackpot Soars After Saturday Rollover

The numbers drawn Saturday were 5, 9, 35, 54 and 63, with Powerball number 7. No ticket matched the entire combination, so the grand prize increased ahead of Monday night’s event.

Although the jackpot was not won, several players did capture significant prizes. Four tickets matched all five white-ball numbers and earned $1 million prizes. Those tickets were sold in Florida, Arizona, Michigan and New York.

A player in Texas also matched the five white-ball numbers and purchased the Power Play option. That ticket’s prize was doubled to $2 million, according to the information reported by Forbes.

Two Dramatic Ways To Claim the Prize

If Monday’s drawing produces a jackpot winner, the winner will have two payout choices:

• Annuity: Approximately $905 million paid through 30 annual installments over 29 years.
• Cash option: An estimated lump-sum payment of $391.9 million before federal and state taxes.

The cash option is generally more popular among lottery winners because it provides immediate access to the money. However, the advertised jackpot refers to the annuity value, not the amount a winner would receive upfront.

Taxes Could Shrink the $905 Million Prize

Taxes would significantly reduce the amount collected by a jackpot winner. A winner who chooses the $391.9 million cash option would initially face a 24% federal withholding tax. That would reduce the payment to approximately $297.8 million.

The winner would likely fall into the highest federal income-tax bracket, which could bring the final federal tax rate to 37%. After that calculation, the cash prize could decline to roughly $246.8 million, before any state taxes are considered.

The annuity option could provide about $570 million after federal taxes, although the money would be distributed over time rather than paid immediately. The annual installments are designed to increase by 5% each year, helping account for the long payment schedule.

State tax rules vary widely. New York can tax lottery winnings at rates reaching 10.9%, while California, Texas and Florida do not impose state taxes on lottery prizes. The winner’s location could therefore make a major difference in the final amount received.

Powerball Odds Remain Extremely Long

The chance of winning the Powerball jackpot is approximately one in 292.2 million. To win, players must correctly select five white-ball numbers from 1 through 69 and the red Powerball number from 1 through 26.

The odds of matching all five white balls without the Powerball are also steep, at approximately one in 11.6 million. That helps explain why the four $1 million winners and the $2 million Power Play winner still represent an extraordinary outcome.

For players planning to participate, Monday night’s drawing offers a headline-making prize but no guarantee of a winner. If the jackpot rolls over again, the estimated prize could rise even further for the following drawing.

What Players Should Know Before Monday Night

• Purchase tickets before the sales cutoff set by your state lottery.
• Keep the ticket in a safe place after buying it.
• Check the numbers against official lottery results.
• Sign the back of any winning ticket before seeking advice.
• Consider consulting a tax professional and financial adviser before claiming a major prize.

Lottery officials also remind players that Powerball tickets are games of chance. The enormous jackpot may attract widespread attention, but the odds remain highly unfavorable for every individual ticket.

Frequently Asked Questions

When is the next Powerball drawing?

The next Powerball drawing is scheduled for Monday, August 10, 2026, at 10:59 p.m. EDT.

How much is the Powerball jackpot?

The advertised Powerball jackpot is estimated at $905 million, with a cash option of approximately $391.9 million before taxes.

What happens if someone wins Monday’s jackpot?

The winner can choose between 30 annual annuity payments or the estimated $391.9 million lump-sum cash option.

How much would a winner take home after federal taxes?

The lump-sum prize could fall to approximately $246.8 million after the highest projected federal tax rate, before state taxes.

What are the odds of winning Powerball?

The odds of winning the Powerball jackpot are approximately one in 292.2 million.